Increase in world oil prices causes changes in gasoline prices in Azerbaijan

Any change in prices for Premium (AI-95) and Super (AI-98) gasoline is a result of fluctuations in the prices for oil and oil products in world markets, a source in Azerbaijan's oil market told Trend on Aug.6.

The prices for Premium (AI-95) gasoline increased from 0.93 AZN to 0.97 AZN in several gas stations of the country on Aug.6.

Currently, these brands are purchased in the international markets at the prices of these markets, therefore, the prices for gasoline change depending on its final cost, according to the source.

The State Oil Company of Azerbaijan (SOCAR) hasn't given any recommendations to the owners of gas stations in the domestic market about changing the prices for gasoline, as it is outside the company's competence.

Alongside with other suppliers, SOCAR Petroleum company also imports gasoline to Azerbaijan.

Azerbaijan's Cabinet of Ministers earlier reduced the rates of customs and excise duties for the import of high ecological standard gasoline at lower prices. This made it possible to import Premium Euro-95 and Super Euro-98 gasoline at lower prices and selling them at free market prices.

After starting the import of 95 octane gasoline, the prices for this fuel increased from 0.8 AZN to 0.93 AZN per liter. In turn, the prices for 98 octane gasoline decreased from 1.5 AZN to 1.03 AZN per liter.

AI-95 and AI-98 gasoline brands account for approximately 10 percent of total consumption in Azerbaijan and these brands are not used in the spheres of production and services.